Bionic Commando and Terminator: Salvation developer GRIN is officially closing its doors, citing an "unbearable cashflow situation." The closure comes following rumors of layoffs and other troubles at the Swedish studio, Gamasutra is reporting.
"Too many publishers have been delaying their payments, causing an unbearable cashflow situation," co-founders Bo and Ulf Andersson wrote on the official site.
"After twelve years of hard work, employing hundreds of wonderfully talented men and women, it is over. It has been a great adventure and the GRIN family has experienced what few have."
GRIN has worked with a number of high profile franchises, including Ghost Recon Advanced Warfighter. It had been doing well, opening additional locations, before running into weaker-than-expected sales for the Bionic Commando remake.
The studio's final message offers thanks to people at Nvidia, Intel and Capcom, as well as GRIN's team members. It also seems that the studio was hard at work on a new project when it was shut down. The farewell note makes mention of an "unreleased masterpiece that we were not allowed to finish."
To its fans, the studio offered a final goodbye, saying, "We hope you had a good time."
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